Citigroup Inc. Sells 212,313 Shares of Kimco Realty Corp (NYSE:KIM)

Citigroup Inc. lessened its stake in Kimco Realty Corp (NYSE:KIM - Free Report) by 29.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 501,406 shares of the real estate investment trust's stock after selling 212,313 shares during the quarter. Citigroup Inc. owned 0.07% of Kimco Realty worth $11,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in Kimco Realty by 43.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust's stock worth $154,583,000 after buying an additional 2,400,752 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust's stock worth $221,740,000 after acquiring an additional 1,193,600 shares during the last quarter. Sei Investments Co. lifted its position in Kimco Realty by 71.5% in the 2nd quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust's stock valued at $54,345,000 after acquiring an additional 1,164,029 shares in the last quarter. Millennium Management LLC boosted its stake in Kimco Realty by 146.6% during the 2nd quarter. Millennium Management LLC now owns 1,477,297 shares of the real estate investment trust's stock valued at $28,748,000 after purchasing an additional 878,217 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. bought a new stake in shares of Kimco Realty in the 2nd quarter worth $16,432,000. Institutional investors own 89.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KIM. Mizuho downgraded Kimco Realty from an "outperform" rating to a "neutral" rating and upped their price target for the company from $20.00 to $23.00 in a report on Monday, August 19th. Evercore ISI raised their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Finally, Scotiabank lifted their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.33.

Kimco Realty Stock Performance

Shares of NYSE KIM traded down $0.20 during trading on Friday, hitting $25.58. The company had a trading volume of 4,561,082 shares, compared to its average volume of 4,561,608. The stock has a 50 day simple moving average of $24.10 and a 200 day simple moving average of $21.94. The firm has a market capitalization of $17.24 billion, a P/E ratio of 46.49, a price-to-earnings-growth ratio of 3.37 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty Corp has a 12 month low of $17.57 and a 12 month high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm had revenue of $507.63 million for the quarter, compared to analysts' expectations of $502.78 million. During the same period in the prior year, the firm earned $0.40 EPS. Kimco Realty's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.91%. Kimco Realty's dividend payout ratio is presently 181.82%.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America's largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.